Ball Corporation (BALL) 10-Year Financial Performance & Capital Metrics

BALL • • Industrial / General

Consumer CyclicalPackagingMetal PackagingBeverage Can Manufacturers

AboutBall Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. It operates through four segments: Beverage Packaging, North and Central America; Beverage Packaging, Europe, Middle East and Africa; Beverage Packaging, South America; and Aerospace. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages. It also develops spacecraft, sensors and instruments, radio frequency systems, and other technologies for the civil, commercial, and national security aerospace markets, as well as offers defense hardware, antenna and video tactical solutions, civil and operational space hardware, and systems engineering services. In addition, the company designs, manufactures, and tests satellites, remote sensors, and ground station control hardware and software; and provides launch vehicle integration and satellite operational services. Further, it offers target identification, warning, and attitude control systems and components; cryogenic systems and associated sensor cooling devices; star trackers; and fast-steering mirrors to the government agencies or their prime contractors. Additionally, the company manufactures and sells extruded aluminum aerosol containers, recloseable aluminum bottles, aluminum cups, and aluminum slugs. Ball Corporation was founded in 1880 and is headquartered in Westminster, Colorado.Show more

Revenue $11.8B -1.8%
EBITDA $1.61B -13.4%
Net Income $4.01B +466.9%
EPS (Diluted) 13.00 +483.0%
Gross Margin 15.59% +9.2%
EBITDA Margin 13.66% -11.8%
Operating Margin 8.41% -14.1%
Net Margin 33.97% +477.5%
ROE 82.07% +327.4%
ROIC 6.54% -10.7%
Debt/Equity 1.01 -54.6%
Interest Coverage 3.39 +32.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 40.4%
✓Strong 5Y profit CAGR of 47.9%
✓Strong Piotroski F-Score: 8/9
✓Share count reduced 2.8% through buybacks
✓Healthy 5Y average net margin of 11.2%

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.21%

5Y0.59%

3Y-5.39%

TTM7.22%

Profit (Net Income) CAGR

10Y23.9%

5Y47.92%

3Y65.89%

TTM-83.79%

EPS CAGR

10Y22.93%

5Y50.93%

3Y69.92%

TTM-81.57%

ROCE

10Y Avg8.71%

5Y Avg8.69%

3Y Avg8.1%

Latest7.66%

Peer Comparison

Beverage Can Manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CCKCrown Holdings, Inc.	12.09B	104.78	29.52	-1.74%	7.79%	27.04%	6.53%	1.99
BALLBall Corporation	14.98B	55.89	4.30	-1.84%	5.37%	12.47%		1.01
AMBPArdagh Metal Packaging S.A.	2.62B	4.39	-97.12	1.99%	0.3%		10.02%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	7.99B	9.06B	10.99B	11.63B	11.46B	11.76B	13.93B	15.29B	12.02B	11.8B
Revenue Growth %	-0.07%	0.13%	0.21%	0.06%	-0.02%	0.03%	0.18%	0.1%	-0.21%	-0.02%
Cost of Goods Sold+	6.69B	7.71B	9.46B	10.06B	9.79B	9.88B	11.9B	13.54B	10.3B	9.96B
COGS % of Revenue	0.84%	0.85%	0.86%	0.86%	0.85%	0.84%	0.85%	0.89%	0.86%	0.84%
Gross Profit+	1.3B	1.35B	1.53B	1.57B	1.66B	1.88B	2.03B	1.75B	1.72B	1.84B
Gross Margin %	0.16%	0.15%	0.14%	0.14%	0.15%	0.16%	0.15%	0.11%	0.14%	0.16%
Gross Profit Growth %	-0.12%	0.04%	0.13%	0.03%	0.06%	0.13%	0.08%	-0.14%	-0.02%	0.07%
Operating Expenses+	475.6M	659M	346M	649M	660M	575M	800M	742M	540M	847M
OpEx % of Revenue	0.06%	0.07%	0.03%	0.06%	0.06%	0.05%	0.06%	0.05%	0.04%	0.07%
Selling, General & Admin	449.6M	631M	319M	617M	616M	528M	744M	687M	532M	847M
SG&A % of Revenue	0.06%	0.07%	0.03%	0.05%	0.05%	0.04%	0.05%	0.04%	0.04%	0.07%
Research & Development	26M	28M	27M	32M	44M	47M	56M	55M	55M	0
R&D % of Revenue	0%	0%	0%	0%	0%	0%	0%	0%	0%	-
Other Operating Expenses	0	0	0	0	0	0	0	0	-47M	0
Operating Income+	821.3M	691M	1.18B	923M	1B	1.3B	1.23B	1.01B	1.18B	992M
Operating Margin %	0.1%	0.08%	0.11%	0.08%	0.09%	0.11%	0.09%	0.07%	0.1%	0.08%
Operating Income Growth %	-0.16%	-0.16%	0.71%	-0.22%	0.09%	0.3%	-0.06%	-0.18%	0.16%	-0.16%
EBITDA+	1.11B	1.14B	1.91B	1.63B	1.68B	1.97B	1.93B	1.69B	1.86B	1.61B
EBITDA Margin %	0.14%	0.13%	0.17%	0.14%	0.15%	0.17%	0.14%	0.11%	0.15%	0.14%
EBITDA Growth %	-0.12%	0.03%	0.67%	-0.15%	0.03%	0.17%	-0.02%	-0.13%	0.11%	-0.13%
D&A (Non-Cash Add-back)	285.5M	453M	729M	702M	678M	668M	700M	672M	686M	620M
EBIT	573.5M	442M	815M	948M	937M	954M	1.28B	1.21B	1.07B	839M
Net Interest Income+	-143M	-229M	-285M	-301M	-317M	-275M	-270M	-299M	-424M	-225M
Interest Income	0	0	0	0	0	0	0	14M	36M	68M
Interest Expense	143M	229M	285M	301M	317M	275M	270M	313M	460M	293M
Other Income/Expense	-471.4M	-551M	-639M	-285M	-395M	-624M	-198M	-122M	-542M	-429M
Pretax Income+	349.9M	140M	545M	638M	607M	681M	1.03B	891M	634M	563M
Pretax Margin %	0.04%	0.02%	0.05%	0.05%	0.05%	0.06%	0.07%	0.06%	0.05%	0.05%
Income Tax+	47M	-126M	165M	185M	71M	99M	156M	159M	146M	133M
Effective Tax Rate %	0.8%	1.88%	0.69%	0.71%	0.93%	0.86%	0.85%	0.81%	1.12%	7.12%
Net Income+	281M	263M	374M	454M	566M	585M	878M	719M	707M	4.01B
Net Margin %	0.04%	0.03%	0.03%	0.04%	0.05%	0.05%	0.06%	0.05%	0.06%	0.34%
Net Income Growth %	-0.4%	-0.06%	0.42%	0.21%	0.25%	0.03%	0.5%	-0.18%	-0.02%	4.67%
Net Income (Continuing)	303M	266M	380M	453M	536M	582M	878M	732M	488M	430M
Discontinued Operations	0	0	0	0	0	0	0	0	223M	3.58B
Minority Interest	10M	106M	105M	104M	70M	62M	58M	66M	68M	68M
EPS (Diluted)+	1.00	0.70	1.12	1.29	1.66	1.75	2.65	2.25	2.23	13.00
EPS Growth %	-0.39%	-0.3%	0.6%	0.15%	0.29%	0.05%	0.51%	-0.15%	-0.01%	4.83%
EPS (Basic)	1.02	0.71	1.14	1.32	1.71	1.79	2.69	2.27	2.25	13.12
Diluted Shares Outstanding	281.97M	322.88M	356.99M	352.32M	340.12M	333.9M	331.62M	320.01M	317.02M	308.21M
Basic Shares Outstanding	274.6M	316.54M	350.27M	344.8M	331.1M	327.14M	325.99M	316.43M	314.77M	305.46M
Dividend Payout Ratio	0.26%	0.32%	0.34%	0.3%	0.32%	0.34%	0.26%	0.35%	0.36%	0.06%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	2.18B	3.64B	3.76B	3.94B	4.88B	4.67B	5.22B	5.49B	4.88B	4.84B
Cash & Short-Term Investments	224M	597M	448M	721M	1.8B	1.37B	563M	548M	695M	893M
Cash Only	224M	597M	448M	721M	1.8B	1.37B	563M	548M	695M	893M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	885M	1.49B	1.63B	1.8B	1.63B	1.74B	2.56B	2.59B	2.06B	2.17B
Days Sales Outstanding	40.43	60.05	54.25	56.54	51.97	53.95	67.07	61.92	62.47	67.01
Inventory	898M	1.41B	1.53B	1.27B	1.27B	1.35B	1.79B	2.18B	1.53B	1.48B
Days Inventory Outstanding	48.97	66.88	58.85	46.11	47.48	49.99	55.06	58.76	54.24	54.13
Other Current Assets	177M	152M	150M	146M	181M	218M	305M	168M	600M	305M
Total Non-Current Assets+	7.51B	12.52B	13.42B	12.61B	12.48B	13.58B	14.49B	14.42B	14.42B	12.79B
Property, Plant & Equipment	2.69B	4.39B	4.61B	4.54B	4.71B	5.65B	6.92B	7.49B	7.08B	6.51B
Fixed Asset Turnover	2.97x	2.07x	2.38x	2.56x	2.43x	2.08x	2.01x	2.04x	1.70x	1.81x
Goodwill	2.18B	5.09B	4.93B	4.47B	4.42B	4.48B	4.38B	4.24B	4.25B	4.17B
Intangible Assets	195M	1.93B	2.46B	2.19B	2B	1.88B	1.69B	1.42B	1.25B	1.08B
Long-Term Investments	34M	204M	274M	302M	291M	321M	184M	193M	212M	316M
Other Non-Current Assets	2.36B	457M	807M	870M	814M	1.01B	1.19B	1.01B	1.52B	649M
Total Assets+	9.7B	16.17B	17.18B	16.55B	17.36B	18.25B	19.71B	19.91B	19.3B	17.63B
Asset Turnover	0.82x	0.56x	0.64x	0.70x	0.66x	0.64x	0.71x	0.77x	0.62x	0.67x
Asset Growth %	0.28%	0.67%	0.06%	-0.04%	0.05%	0.05%	0.08%	0.01%	-0.03%	-0.09%
Total Current Liabilities+	2.14B	2.97B	4.11B	4.09B	5.58B	4.44B	5.95B	7.01B	6.18B	4.85B
Accounts Payable	1.5B	2.03B	2.76B	3.1B	3.14B	3.43B	4.76B	4.38B	3.66B	3.42B
Days Payables Outstanding	81.85	96.22	106.52	112.28	116.87	126.74	145.97	118.2	129.7	125.27
Short-Term Debt	77M	222M	453M	219M	1.48B	17M	13M	1.41B	1.06B	440M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	1000K
Other Current Liabilities	334.6M	399M	540M	492M	618M	587M	750M	888M	1.13B	636M
Current Ratio	1.02x	1.23x	0.92x	0.96x	0.88x	1.05x	0.88x	0.78x	0.79x	1.00x
Quick Ratio	0.60x	0.75x	0.54x	0.65x	0.65x	0.75x	0.58x	0.47x	0.54x	0.69x
Cash Conversion Cycle	7.54	30.71	6.58	-9.63	-17.43	-22.79	-23.84	2.49	-12.99	-4.13
Total Non-Current Liabilities+	6.29B	9.66B	9.02B	8.9B	8.76B	10.47B	10.08B	9.37B	9.28B	6.85B
Long-Term Debt	4.97B	7.31B	6.52B	6.51B	6.34B	7.78B	7.71B	7.54B	7.5B	5.31B
Capital Lease Obligations	0	0	0	0	181M	232M	352M	359M	0	270M
Deferred Tax Liabilities	173M	439M	695M	645M	561M	634M	665M	540M	421M	620M
Other Non-Current Liabilities	1.15B	1.91B	1.8B	1.74B	1.69B	1.82B	1.35B	935M	1.36B	652M
Total Liabilities	8.44B	12.88B	13.11B	12.99B	14.34B	14.91B	16.03B	16.38B	15.47B	11.7B
Total Debt+	5.05B	7.53B	6.97B	6.73B	8.06B	8.1B	8.16B	9.4B	8.57B	6.02B
Net Debt	4.83B	6.93B	6.52B	6.01B	6.26B	6.73B	7.59B	8.85B	7.87B	5.12B
Debt / Equity	4.01x	2.13x	1.72x	1.89x	2.67x	2.43x	2.21x	2.67x	2.23x	1.01x
Debt / EBITDA	4.56x	6.58x	3.64x	4.14x	4.80x	4.10x	4.22x	5.58x	4.60x	3.73x
Net Debt / EBITDA	4.36x	6.06x	3.41x	3.70x	3.73x	3.41x	3.93x	5.25x	4.23x	3.18x
Interest Coverage	5.74x	3.02x	4.15x	3.07x	3.16x	4.75x	4.56x	3.24x	2.56x	3.39x
Total Equity+	1.26B	3.54B	4.05B	3.56B	3.02B	3.34B	3.69B	3.53B	3.84B	5.93B
Equity Growth %	0.02%	1.81%	0.14%	-0.12%	-0.15%	0.11%	0.1%	-0.04%	0.09%	0.55%
Book Value per Share	4.47	10.97	11.33	10.11	8.88	9.99	11.11	11.02	12.10	19.24
Total Shareholders' Equity	1.25B	3.44B	3.94B	3.46B	2.95B	3.27B	3.63B	3.46B	3.77B	5.86B
Common Stock	961.7M	1.04B	1.08B	1.16B	1.18B	1.17B	1.22B	1.26B	1.31B	1.4B
Retained Earnings	4.56B	4.74B	4.99B	5.34B	5.8B	6.19B	6.84B	7.31B	7.76B	11.53B
Treasury Stock	-3.63B	-1.4B	-1.47B	-2.21B	-3.12B	-3.13B	-3.85B	-4.43B	-4.39B	-6.06B
Accumulated OCI	-639.9M	-941M	-656M	-835M	-910M	-954M	-582M	-679M	-916M	-1B
Minority Interest	10M	106M	105M	104M	70M	62M	58M	66M	68M	68M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.01B	194M	1.48B	1.57B	1.55B	1.43B	1.76B	283M	1.86B	115M
Operating CF Margin %	0.13%	0.02%	0.13%	0.13%	0.14%	0.12%	0.13%	0.02%	0.16%	0.01%
Operating CF Growth %	-0.01%	-0.81%	6.62%	0.06%	-0.01%	-0.07%	0.23%	-0.84%	5.58%	-0.94%
Net Income	302.9M	266M	405M	453M	536M	582M	878M	732M	711M	4.01B
Depreciation & Amortization	285.5M	453M	729M	702M	678M	668M	700M	672M	686M	620M
Stock-Based Compensation	25M	35M	46M	75M	37M	43M	40M	39M	0	0
Deferred Taxes	-61.8M	-293M	70M	35M	-45M	17M	35M	-2M	-67M	143M
Other Non-Cash Items	336.8M	241M	-41M	211M	106M	228M	-13M	-234M	173M	-4.11B
Working Capital Changes	140.2M	-509M	321M	90M	236M	-106M	120M	-924M	360M	-551M
Change in Receivables	34.8M	-53M	-189M	-281M	205M	-81M	-729M	-305M	238M	-325M
Change in Inventory	96.9M	30M	-66M	-248M	-45M	-64M	-464M	-458M	626M	-25M
Change in Payables	124.6M	-55M	639M	592M	72M	66M	1.31B	-83M	-510M	-91M
Cash from Investing+	-2.72B	672M	-545M	-206M	-422M	-1.18B	-1.64B	-768M	-1.05B	5B
Capital Expenditures	-527.9M	-606M	-556M	-816M	-598M	-1.11B	-1.73B	-1.65B	-1.04B	-484M
CapEx % of Revenue	0.07%	0.07%	0.05%	0.07%	0.05%	0.09%	0.12%	0.11%	0.09%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.16B	1.97B	13M	71M	16M	18M	-25M	124M	-8M	5.56B
Cash from Financing+	1.74B	-387M	-1.07B	-1.04B	-46M	-602M	-894M	485M	-662M	-4.79B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-72M	-83M	-129M	-137M	-182M	-198M	-229M	-254M	-252M	-244M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-92M	-14M	-7M	-14M	-31M	-67M	-44M	-4M	33M	25M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	478.8M	-412M	922M	750M	950M	319M	34M	-1.37B	818M	-369M
FCF Margin %	0.06%	-0.05%	0.08%	0.06%	0.08%	0.03%	0%	-0.09%	0.07%	-0.03%
FCF Growth %	-0.23%	-1.86%	3.24%	-0.19%	0.27%	-0.66%	-0.89%	-41.24%	1.6%	-1.45%
FCF per Share	1.70	-1.28	2.58	2.13	2.79	0.96	0.10	-4.27	2.58	-1.20
FCF Conversion (FCF/Net Income)	3.58x	0.74x	3.95x	3.45x	2.73x	2.45x	2.00x	0.39x	2.64x	0.03x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	22.47%	10.95%	9.86%	11.93%	17.2%	18.41%	25.01%	19.94%	19.2%	82.07%
Return on Invested Capital (ROIC)	11.95%	6.26%	8.44%	6.87%	7.97%	10.12%	8.66%	6.42%	7.32%	6.54%
Gross Margin	16.23%	14.9%	13.92%	13.51%	14.51%	15.99%	14.59%	11.48%	14.28%	15.59%
Net Margin	3.52%	2.9%	3.4%	3.9%	4.94%	4.98%	6.3%	4.7%	5.88%	33.97%
Debt / Equity	4.01x	2.13x	1.72x	1.89x	2.67x	2.43x	2.21x	2.67x	2.23x	1.01x
Interest Coverage	5.74x	3.02x	4.15x	3.07x	3.16x	4.75x	4.56x	3.24x	2.56x	3.39x
FCF Conversion	3.58x	0.74x	3.95x	3.45x	2.73x	2.45x	2.00x	0.39x	2.64x	0.03x
Revenue Growth	-7.08%	13.41%	21.32%	5.81%	-1.52%	2.64%	18.49%	9.75%	-21.39%	-1.84%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Metal Beverage Packaging Americas and Asia	-	-	-	-	-	-	5.86B	6.7B	5.96B	5.62B
Metal Beverage Packaging Americas and Asia Growth	-	-	-	-	-	-	-	14.34%	-10.95%	-5.77%
Metal Beverage Packaging Europe	1.65B	1.92B	2.36B	2.62B	2.65B	2.94B	-	3.85B	3.4B	3.47B
Metal Beverage Packaging Europe Growth	-	15.87%	23.24%	10.97%	1.22%	11.09%	-	-	-11.91%	2.09%
Metal Food and Household Products Packaging Americas	-	-	-	-	-	-	2.02B	2.11B	1.96B	1.95B
Metal Food and Household Products Packaging Americas Growth	-	-	-	-	-	-	-	4.56%	-7.02%	-0.46%
Metal beverage packaging, Americas and Asia	4.25B	-	-	-	-	-	-	-	-	-
Metal beverage packaging, Americas and Asia Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	4.74B	4.93B	5.5B	5.78B	5.75B	6.32B	7.28B	8.49B	7.84B	5.48B
UNITED STATES Growth	-	4.03%	11.50%	5.22%	-0.62%	9.92%	15.31%	16.52%	-7.64%	-30.12%
Other Geographic Group	-	-	-	4.47B	4.38B	4.17B	5.07B	5.41B	4.78B	4.9B
Other Geographic Group Growth	-	-	-	-	-2.15%	-4.73%	21.59%	6.77%	-11.64%	2.45%
B [R]	-	-	-	1.38B	1.35B	1.29B	1.46B	1.45B	1.41B	1.42B
B [R] Growth	-	-	-	-	-2.10%	-4.15%	12.59%	-0.55%	-2.90%	0.71%

Frequently Asked Questions

Valuation & Price

Ball Corporation (BALL) has a price-to-earnings (P/E) ratio of 4.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Ball Corporation (BALL) reported $12.67B in revenue for fiscal year 2024. This represents a 48% increase from $8.57B in 2011.

Ball Corporation (BALL) saw revenue decline by 1.8% over the past year.

Yes, Ball Corporation (BALL) is profitable, generating $680.0M in net income for fiscal year 2024 (34.0% net margin).

Dividend & Returns

Yes, Ball Corporation (BALL) pays a dividend with a yield of 1.42%. This makes it attractive for income-focused investors.

Ball Corporation (BALL) has a return on equity (ROE) of 82.1%. This is excellent, indicating efficient use of shareholder capital.

Ball Corporation (BALL) generated $140.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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